New ad: Obama says GOP wants no checks on Wall St

Democrats are raising the specter in a new campaign ad just days before the election of a Republican push to make Wall Street less accountable and cut record amounts of education funding.

The Democratic National Committee's advertisement, going on the air this weekend, will appear on national cable channels such as MSNBC and BET, and features President Barack Obama urging people to vote for Democrats on Tuesday.

Buoyed by tea party enthusiasm and anger over high unemployment, Republicans are expected to make large gains in the midterm elections. They are likely to reclaim a majority in the House of Representatives and make significant gains in the Senate.

In the ad, Obama warns that a GOP victory also means more power for oil and insurance giants.